Kongsberg, January 29, 2025: The Board of Directors of Kongsberg Automotive ASA
has appointed Trond Fiskum as new President and CEO of Kongsberg Automotive ASA.

Trond Fiskum is 53 years old. He holds a MSc from the Norwegian University of
Technology and Science (NTNU) and an MBA from ESADE Business School, Spain. He
has extensive leadership experience from international companies with a solid
track record of delivering strong results.

Trond has a decade of experience from Kongsberg Automotive where he held various
leadership positions from 2005 to 2015. His first appointment was as Managing
Director for Kongsberg Automotive's operations in Brazil, where he conducted a
remarkable operational restructuring. This was followed by a position as Head of
the Business Area Actuation & Chassis at Kongsberg HQ where he was a member of
KA`s Executive Committee, and finally a position as Head of Strategy and
Business Development.

The Board of Directors would like to emphasize Trond's experience and knowledge
with Kongsberg Automotive. Trond knows and understands the automotive business,
and the Kongsberg Automotive culture and values. He has a strong track record of
running complex organizational processes involving cost cutting, efficiency
improvements, and growth, with financial and strategic responsibility. His
additional experience from McKinsey further strengthens his ability to address
strategic challenges and implement effective solutions. The Board of Directors
is convinced that Trond, with his personal qualities and broad expertise, has
the right background to restore profitable growth for Kongsberg Automotive and
create value for all its stakeholders.

Since 2015 Trond has resided in Brazil, holding senior positions with Akastor
-owned MHWirth. He is currently VP South America at HMH, a merger between
MHWirth and Baker Hughes SDS. Trond will relocate to Kongsberg and take office
in Kongsberg Automotive HQ. This is an important step in rebuilding the
company's HQ in Kongsberg. Trond will start as soon as possible after fulfilling
his existing obligations under his current employment contract, and at the
latest by July 1, 2025. In the interim period up until he takes office, CFO
Christian Johansson will act as the interim President and CEO.

The Board of Directors would like to thank Linda Nyquist-Evenrud for her job as
interim CEO and CEO for the last 18 months, and for her hard work, strong
dedication and improvements achieved - like new business wins and cost
reductions programs. According to her employment contract, Linda has been
relieved of her duties with immediate effect.

Media and communications contact:
Therese Sjöborg Skurdal - Director, Group Marketing and Communications
therese.skurdal@ka-group.com
+47 982 14 059

Investor Relations contact:
investor.relations@ka-group.com


About Kongsberg Automotive ASA
Kongsberg Automotive provides cutting-edge technology to the global vehicle
industry. We drive the global transition to sustainable mobility by putting
engineering, sustainability, and innovation into practice. Our product portfolio
includes driver and motion control systems, fluid assemblies, and industrial
driver interface products. Find more information
at:?kongsbergautomotive.com (https://www.kongsbergautomotive.com/)